OJK Prepares Rules on IDX Share Ownership Limits After Demutualisation

The Financial Services Authority (OJK) is currently reviewing a concept regarding the maximum ownership limitation of the Indonesia Stock Exchange (IDX), which will be included as a provision in the OJK Regulation (POJK) on Demutualisation. However, the OJK is open to the possibility of certain parties exceeding the ownership limit of the IDX post-demutualisation, provided they first undergo an assessment and approval process at the OJK. “If they meet the criteria as a party we view as a strategic partner for the development of the industry and the Stock Exchange, then the excess of the ownership limit for that party can only be made possible through an assessment and approval process at the OJK,” said Hasan Fawzi, Chief Executive of Capital Market, Derivative Finance and Carbon Exchange Supervision at OJK, after the 2026 Indonesian Issuers Association (AEI) Members’ Meeting in Jakarta, Tuesday (11/8/2026). Hasan stated that this provision will apply to three institutions representing state representation, namely the Ministry of Finance (Kemenkeu), Bank Indonesia (BI) and Danantara Indonesia, as well as to other parties interested in owning IDX shares. “Of course, there is no specific indication regarding the amount of ownership from any party, including the three institutions specifically mentioned in the Law. We are just thinking of a concept so that in general there will be a maximum ownership limit allowed without OJK approval by a particular party,” Hasan said. Regarding the amount of the maximum share ownership limit for the IDX, he revealed that the OJK is currently still conducting a study by considering practices in effect in several other countries’ exchanges.